Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Amy J who wrote (182514)	11/3/2005 6:19:39 AM
From: John Carragher	Read Replies (1) \| Respond to of 186894

xom doesn't take from this earth they pay big time in federal auctions for rights to drill. I still remember when alaska opened up for oil drilling rights. mobil bid big time on one sections to drill. someone there thought this was the big one! funny no other major oil companies bid of the same section. mobil threw away millions as high bidder and the place was dry. the closest bid was millions below Mobil bid by some small drillers. seems they also won off the coast of south carolina to drill for oil gas in early 80's paid millions maybe billions ? oh, state won in court to stop any drilling off shore.. it took two decades in the courts to win back the money they paid for the right to drill in courts. We still got known reserves of natual gas off the atlantic coast. if we are paying higher prices perhaps we need to look within , why we let congress restrict refineries , chemical plants etc from repairs to existing facilities vs making them bring the whole location up to code thus forcing these type plants to close or sell off to local smaller companies where local people will support any kind of maintenance in order to hold jobs. if only we started drilling off west coast, gulf around florida and off carolinas.. perhaps we would have been in fair supply situation , not hurting those in lower incomes who cannot afford high heating costs and gasoline, and perhaps our congress could have come to some type of sanity and addressed an energy bill seriously.

To: Amy J who wrote (182514)	11/3/2005 4:08:14 PM
From: TimF	Respond to of 186894

1. XOM didn't create the natural resource component they sell. XOM should be taxed for taking from our Earth. The government didn't create the natural resources either but XOM paid the government money to be able to drill for them, and then later pays tax on its profits. 3. Their excessive profits certainly invalidates prior arguments to not create a tax on XOM. Whether or not profits are excessive is almost entirely subjective but meerly stating that they are excessive (accurately or not) is not an argument for any specific tax or other action, or a refutation of other arguments.